{"id":230,"slug":"2026-09-14-tokenized-stock-peg-by-session","day":"2026-09-14","project":"pegwatch","title":"Tokenized stock peg quality by market session — week to 2026-09-14","headline":"The typical tokenized stock holds within 68 bps of its underlying while the US market is open, widening to 139 bps during premarket.","bullets":["premarket: typical symbol median 58 bps, 95th pct 139 bps (12 symbols, 3960 ticks)","weekend: typical symbol median 39 bps, 95th pct 118 bps (12 symbols, 6912 ticks)","overnight: typical symbol median 32 bps, 95th pct 99 bps (12 symbols, 5784 ticks)","open: typical symbol median 26 bps, 95th pct 68 bps (12 symbols, 4680 ticks)","afterhours: typical symbol median 26 bps, 95th pct 66 bps (12 symbols, 2880 ticks)","Figures are per-symbol percentiles aggregated across symbols, so one wide name cannot set the headline.","Outliers excluded from the typical figure: METAx (522 bps during premarket).","Measured every 5 minutes against the real underlying trade price, not a quote midpoint."],"sample_n":24216,"payload":{"sessions":[{"session":"premarket","symbols":12,"ticks":3960,"typical_p95_bps":139.10250000000002,"typical_median_bps":57.525000000000006,"widest":{"symbol":"METAx","n":330,"p95_bps":521.725,"median_bps":73.6}},{"session":"weekend","symbols":12,"ticks":6912,"typical_p95_bps":117.67500000000001,"typical_median_bps":39.45,"widest":{"symbol":"MSTRx","n":576,"p95_bps":221.4,"median_bps":57.2}},{"session":"overnight","symbols":12,"ticks":5784,"typical_p95_bps":99.41999999999996,"typical_median_bps":31.55,"widest":{"symbol":"MSTRx","n":482,"p95_bps":254.2,"median_bps":52.650000000000006}},{"session":"open","symbols":12,"ticks":4680,"typical_p95_bps":68.14249999999998,"typical_median_bps":25.599999999999998,"widest":{"symbol":"MSTRx","n":390,"p95_bps":164.12999999999997,"median_bps":24.4}},{"session":"afterhours","symbols":12,"ticks":2880,"typical_p95_bps":65.86999999999999,"typical_median_bps":25.9,"widest":{"symbol":"MSTRx","n":240,"p95_bps":143.5,"median_bps":30.65}}],"method":"per-symbol percentile, median across symbols"},"x_text":"Tokenized stock peg quality, week to 2026-09-14:\n\npremarket — typical 95th pct 139 bps (12 symbols)\nweekend — typical 95th pct 118 bps (12 symbols)\novernight — typical 95th pct 99 bps (12 symbols)\nopen — typical 95th pct 68 bps (12 symbols)\n\nArbitrage holds the peg while the market is open. It widens when it shuts.\nhttps://data.ochinimus.app/r/2026-09-14-tokenized-stock-peg-by-session","created_ts":1789369201}